Economic Development

We believe a strong economy is good for everyone, and we are doing our part to encourage investment, job creation and sustainable development.

Billions Invested in Clean Energy Development

In 2016, NextEra Energy continued to build on its position as the world’s largest generator of renewable energy from the wind and sun, and today continues to execute a power plant modernization program that means substantially lower air emissions rates and a huge reduction in its dependence on foreign oil. This multibillion-dollar investment program has created construction jobs across numerous states and enough new affordable, reliable and clean energy to power millions of homes and businesses.

The investment program embraces our core belief of strength through differences, and supports a diverse business community of qualified small-, women- and minority-owned businesses. From October 2015 through September 2016, FPL alone entered into contracts exceeding $453 million with small and diverse suppliers. Moreover, on certain major construction projects we encourage prime suppliers to exercise reasonable efforts to seek and use local labor and other resources, whenever possible and cost effective.

EarthEra Renewable Energy Trust

Many individuals, businesses and organizations seek strategies to contribute to a low-carbon economy, so we launched the EarthEra Renewable Energy Trust in 2009. When customers purchase EarthEra renewable energy certificates and emissions reduction products, 100 percent of the proceeds support new renewable projects that will be built, owned and operated by NextEra Energy Resources. As of March 2016, approximately $67.2 million has been added to the EarthEra Renewable Energy Trust.

Partnerships with State and Local Economic Development Organizations

FPL has consistently supported the vision that if Florida's economy grows, everyone wins. Recent data shows Florida's economy is growing once again, and FPL is doing its part to energize economic opportunity across its service territory. That’s why in 2013, FPL created its Office of Economic Development.

FPL’s Office of Economic Development is a one-stop resource for new and expanding businesses considering expansion in Florida. And in addition to FPL’s low electric rates, FPL offers two economic development incentives to growing business through its Economic Development Rider and Commercial Industrial Rider. Through 2016, 468 companies have qualified for the discounted rate and they are expected to add 17,625 jobs in Florida. FPL's economic development team hosts a robust business attraction website, PoweringFlorida.com, to help bring jobs and investment to Florida.

Powering Florida Resource Center

The Powering Florida Resource Center provides site selection experts with direct access to information about the state's workforce, real estate, utility rates and potential discounts and incentives. In addition, it also provides local economic development organizations in Florida with tailored data about their communities to help them better market their strengths and target potential businesses. FPL’s Office of Economic team works hand-in-hand with state and local organizations to keep Florida as one of the top states for growing businesses.

Support for Local Needs Through Our Tax Payments

Nationwide, NextEra Energy paid more than $562 million in property taxes in 2016. In Florida, we were one of the top taxpayers, paying more than $1 billion in various state and local taxes and business-related fees, including property taxes, use taxes, gross receipts taxes and franchise fees. In property taxes alone, the company paid more than $447 million to Florida governments in 2016, up from $438 million in 2015. Property taxes are administered at the county level with all funds going directly into the communities the company serves. A breakdown of approximate 2016 tax payments is as follows:

49 percent, or $219 million, went to local governments in the form of support for county fire, police and other government services;

38 percent, or $170 million, went directly to schools;

11 percent, or $49 million, went to city governments; and

2 percent, or $9 million, went to other organizations such as water management districts.